The Importance of Nominating Beneficiaries on your Insurances and Superannuation Accounts
Most Australians are not aware of the importance of nominating beneficiaries on their insurance policies or superannuation accounts. Most people assume that if they were to ever pass away, the will they left behind will hold in court.
This article from News.com.au shows the importance of ensuring you nominate beneficiaries separately on your superannuation and insurance policies as it is at the superannuation company’s discretion on who they will pay your accounts to and will be dealt separately to your last will.
Click here to read the original article from News.com.au.
To prevent you or your family from ending up in this same situation, it is best that you speak to a legal counsel or contact us on 02 9223 0911 to speak to one of our financial advisers in relation to this matter.
References:
http://www.news.com.au/finance/money/costs/deceased-soldiers-family-devastated-after-tribunal-awards-his-daughters-less-than-onequarter-of-his-estate/news-story/b5a10d85a93c3e9c7a31f32dddaf96a9
Please note this information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial advisor, whether the information is appropriate in light of your particular needs and circumstances.
Copyright in the information contained in this site subsists under the Copyright Act 1968 (Cth) and, through international treaties, the laws of many other countries. It is owned by EFDB Pty Ltd unless otherwise stated. All rights reserved. You may download a single copy of this document and, where necessary for its use as a reference, make a single hard copy. Except as permitted under the Copyright Act 1968 (Cth) or other applicable laws, no part of this publication may be otherwise reproduced, adapted, performed in public or transmitted in any form by any process without the specific written consent of EFDB Pty Ltd.
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